Oaklee Housing Treasury Advisory Services
Oaklee Housing (“Oaklee”) is one of the largest Approved Housing Bodies (“AHBs”) in the Republic of Ireland, managing a diversified portfolio across 13 counties in the North and East of Ireland with a concentration in the greater Dublin area. It owns 534 unit and 86 units are leased. It’s future delivery plans are to increase stock through a combination of acquisitions and construction. Oaklee is a member of the Choice Group (“Choice”), with local autonomy, headquartered in Dublin. Choice is currently the largest housing association on the island of Ireland with circa 10,000 units under management. It is also one of the largest housing associations within the UK and is only the second Housing Association in the UK to close a direct loan facility with the EIB.
Oaklee engaged Centrus on a retained basis to provide Treasury Advisory Services including:
- Advising Oaklee on their treasury management policy taking into account their corporate objectives and strategy and in line with best practice for the sector
- Providing strategic treasury management advice on the management of cash, financial risk and liquidity management,
- Developing an optimal hedging strategy based on existing and projected funding requirements under Oaklee’s business plan, and
- Providing support and advice on ad hoc finance and treasury issues, including regular data and market updates, business planning assurance and attendance at board / board committee meetings on related matters.
- Utilising our market leading expertise in social housing finance to propose and analyse various new funding structures for Oaklee to support its growth ambitions
Centrus has added value through assisting Oaklee in developing an updated treasury management policy that is appropriate to Oaklee’s needs today and will ensure treasury best supports the organisation’s strategy and growth in the future. The hedging advice helps ensure that the organisation’s hedging policy is also fit for purpose and will support internal discussions, approvals and the decision-making process at board and treasury level. The funding option advice draws on Centrus’ experience and expertise to provide Oaklee with detailed analysis on different financial models and structures available to an AHB of Oaklee’s size in the current market and provides it with the necessary information to make its decision on the most appropriate debt structure to support its delivery plans over the business plan period.